History of Qatari Riyal The Qatari riyal is the official currency of the State of Qatar. The currency was introduced in 1966 and shares a similar history to some of its neighbors. Until 1966, the Indian rupee was used in the State of Qatar. When the Indian rupee was devalued by its country of origin, Qatar, along with a few other states, decided to create its own currency. It’s worth noting that Qatar used a few different currencies during this time. Luckily, this didn’t last too long, and...
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History of Qatari Riyal

The Qatari riyal is the official currency of the State of Qatar. The currency was introduced in 1966 and shares a similar history to some of its neighbors. Until 1966, the Indian rupee was used in the State of Qatar. When the Indian rupee was devalued by its country of origin, Qatar, along with a few other states, decided to create its own currency. It’s worth noting that Qatar used a few different currencies during this time. Luckily, this didn’t last too long, and the Qatari riyal became the main go-to a few years later.

history_of_qatari_riyal

The Qatari riyal currently has 12 denominations. These include seven banknotes and five coins. The 25 and 50 Dirham coins are used frequently, while the 1, 5, and 10 Dirham coins are rarer to find. When the banknotes are in question, you can find 1, 5, 10, 50, 100, 200, and 500 riyal notes. Something worth noting about the currency is that it has a fixed exchange rate. It’s pegged to the US dollar at a rate of US$1 = 3.65 Qatari riyal.

Safe Casino Deposit Methods that Accept Qatari Riyal

The Qatari government might not be the biggest fan of gambling, but that doesn’t mean the people aren’t too. Many Qatar citizens are keen to try online gambling, and luckily, plenty of online casinos are there to welcome them with open arms. When it comes to banking, things get a bit tricky. While there are several payment options available to players from the region, nearly none of them offer support for the Qatari riyal. Players that want to use these methods will likely have to pay hefty conversion fees or transact using a different currency.

While it might not seem like much, we have some good news. There is a single payment option that does fully support the currency! MuchBetter is a saving grace for many Qatari online casino fans, and here’s a bit more about what it can do for you:

  • MuchBetter: For those unfamiliar with the service, MuchBetter is a somewhat new eWallet service launched in 2017. Like most eWallets, it offers users an easy way to transact online through mobile devices or a web browser. There are many benefits to using MuchBetter. First, it grants users some anonymity when depositing at online casinos. Additionally, the transaction fees are low, and the deposit and withdrawal processing times are lightning fast! Naturally, the service is also well-known for providing high-end security to protect players in the online space.

Gambling Restrictions for Qatar riyal

The legal system in the State of Qatar is partially based on Islamic Law. Essentially, this means that the country is much more relaxed when some laws and regulations are in question compared to other territories governed by Islamic Law. While this seems like excellent news, unfortunately, gambling isn’t one of the things Qatar goes easy on. Online gambling is illegal in the State of Qatar. All forms of gambling are prohibited in the region, which means that players have to get creative if they want to experience this form of entertainment.

Just because gambling is illegal in Qatar doesn’t mean that players don’t do it anyway. Online gambling is pretty popular in the country. A big reason for this is the government’s relaxed approach towards enforcing its gambling ban! While some attempts to blacklist online gambling sites have been made, they’ve been largely unsuccessful. On top of this, there aren’t any known cases of people suffering major ramifications for gambling online.

If you’re wondering about the state of online gambling in Qatar’s future, we doubt much is going to change anytime soon. Because of Islamic Law, the chances of any updates to the region’s licensing and regulations regarding online gambling are slim. Thankfully, it’s not all bleak. While there might not be any positive changes to online gambling regulations, there likely won’t be any changes to enforcing current laws either. Citizens from the State of Qatar that want to give online gambling a shot shouldn’t have much trouble doing it as long as they visit reputable venues.

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